It is the second Mitre 10
proportionate ownership scheme offered by the company this
year, with the first in Pukekohe, Auckland closing early -
again due to over-subscription.

Oyster Group Chief
Executive, Mark Schiele, said the company had made available
to investors 140 shares at $100,000 each in Mitre 10’s
14,000 m2 flagship West Auckland MEGA centre which is
located on a 2.7 hectare site in Henderson, Auckland.

According to Mitre 10 New Zealand, the operation is one
of their top three performing stores in New Zealand.

Mark said a combination of factors including superb
location, built in rental growth, strong tenant and strong
business profile offered had attracted savvy investors.

The investment scheme and property will be managed by
Oyster which manages over $500 million in property around
the country.

Mark said proportionate ownership of
commercial property allowed groups of individuals to invest
in assets of significant value and scale without the hassle
of day-to-day management.- ends
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